Russell Investments Group Ltd. bought a new stake in JinkoSolar Holding Co., Ltd. (NYSE:JKS - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 29,911 shares of the semiconductor company's stock, valued at approximately $744,000. Russell Investments Group Ltd. owned about 0.06% of JinkoSolar at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the business. Trexquant Investment LP acquired a new position in shares of JinkoSolar in the 4th quarter valued at $341,000. Pictet Asset Management Holding SA acquired a new position in JinkoSolar in the fourth quarter valued at $5,948,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in JinkoSolar by 5.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 20,289 shares of the semiconductor company's stock valued at $532,000 after acquiring an additional 1,028 shares during the period. AI Squared Management Ltd acquired a new stake in JinkoSolar during the fourth quarter worth about $2,336,000. Finally, Cornerstone Investment Partners LLC purchased a new position in shares of JinkoSolar in the 4th quarter worth about $231,000. 35.82% of the stock is currently owned by hedge funds and other institutional investors.
JinkoSolar Price Performance
Shares of JKS stock opened at $16.78 on Wednesday. JinkoSolar Holding Co., Ltd. has a twelve month low of $13.42 and a twelve month high of $37.36. The company has a market capitalization of $891.94 million, a PE ratio of 28.44 and a beta of 0.17. The company has a current ratio of 1.22, a quick ratio of 0.97 and a debt-to-equity ratio of 0.81. The firm has a fifty day simple moving average of $19.96 and a 200-day simple moving average of $22.39.
JinkoSolar (NYSE:JKS - Get Free Report) last announced its earnings results on Wednesday, March 26th. The semiconductor company reported ($1.01) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.55). The business had revenue of $20.65 billion for the quarter, compared to analyst estimates of $3.38 billion. JinkoSolar had a net margin of 0.53% and a return on equity of 4.18%. The firm's revenue was down 37.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.54 earnings per share. Equities research analysts anticipate that JinkoSolar Holding Co., Ltd. will post -0.24 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on the stock. The Goldman Sachs Group dropped their target price on shares of JinkoSolar from $20.00 to $18.00 and set a "sell" rating for the company in a research report on Thursday, March 27th. UBS Group cut their target price on shares of JinkoSolar from $25.00 to $22.00 and set a "neutral" rating on the stock in a research note on Thursday, March 27th. Daiwa Capital Markets cut shares of JinkoSolar from an "underperform" rating to a "sell" rating in a research report on Friday, January 10th. Finally, Glj Research cut their price objective on JinkoSolar from $13.08 to $10.95 and set a "sell" rating on the stock in a research report on Thursday, January 23rd. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $27.19.
Get Our Latest Report on JKS
About JinkoSolar
(
Free Report)
JinkoSolar Holding Co, Ltd., together with its subsidiaries, engages in the design, development, production, and marketing of photovoltaic products. The company offers solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots. It also provides solar system integration services; solar power generation and solar system EPC services; and energy storage system, as well as undertakes solar power projects.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider JinkoSolar, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and JinkoSolar wasn't on the list.
While JinkoSolar currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Need to stretch out your 401K or Roth IRA plan? Use these time-tested investing strategies to grow the monthly retirement income that your stock portfolio generates.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
